Why can't I convert my AUD cash to other currencies?

MEXEM Australia only supports currency balances in AUD, USD, EUR and GBP, and clients are able convert between these currencies as described here: How can I convert currency at MEXEM? If you hold cash balances in currencies other than MEXEM Australia supported currencies (AUD, USD, GBP or EUR), they will to be converted into your nominated base currency.

MEXEM Australia clients, when permissioned, can trade in any market available across the MEXEM network, even those outside the 4 supported currencies above. However, upon trading any market outside the 4 supported currencies MEXEM Australia will automatically execute Forex conversions to ensure non-supported cash balances are cleared.
For example, if an MEXEM Australia client using a Cash account wishes to buy HKD denominated securities, as long as the client has sufficient available funds the trade will be permitted.

To settle the trade, MEXEM Australia will convert the existing cash balances into HKD. Similarly, at a later date, if the same client wishes to sell their HKD denominated securities MEXEM Australia would automatically convert the HKD proceeds to the base currency by day's end, once again leaving no residual HKD cash balances. If an MEXEM Australia client using a margin account has any positive or negative cash balances outside of the 4 supported currencies, it will be automatically converted to base currency by day's end.

Additional information on: MEXEM Australia account types and product offerings can be found in our Knowledge Base.

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